“Strong Cable Earnings” Help GE in Dismal Quarter

By Chris Ariens 

NBC Universal’s profits fell 6% in the fourth quarter according to results released this morning. For the full year, profit was up one percent to $3.1 billion.

Parent company General Electric said “strong cable earnings were offset by declines in local stations.” NBCU is made up of Universal Studios, NBC television, and cable channels including CNBC, MSNBC USA and Bravo.

NBCU revenue for the quarter was also down to $4.4 billion, though full year revenue rose 10% to $16.9 billion.

Overall, GE’s profit dropped 44% to $3.7 billion in the fourth quarter; down 22% for the full year.